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Report of Acquisition of Common Shares of Galileo Exploration Ltd.

Wesley John Adams
·2 mins read

VANCOUVER, British Columbia, Oct. 05, 2020 (GLOBE NEWSWIRE) -- Wesley John Adams ("Adams") reports that he has acquired beneficial ownership of an additional 3,927,473 common shares ("Common Shares") of Galileo Exploration Ltd. ("Galileo"). The Common Shares were issued to Adams by Galileo at a deemed price of $0.05 per Common Share to settle debt owing to Adams in the amount of $196,373.63 (the "Transaction").

The Common Shares acquired pursuant to the Transaction represent approximately 7.6% of the current issued and outstanding Common Shares. Immediately prior to the Transaction, Adams held 5,600,000 Common Shares, representing pre-Transaction holdings of approximately 13.61% of the issued and outstanding Common Shares. Following completion of the Transaction Adams' holdings represent approximately 18.45% of the issued and outstanding Common Shares.

Adams acquired the Common Shares in satisfaction of debt owing to Adams by Galileo and expects to be a long-term holder of the Common Shares. Notwithstanding the foregoing, Adams may, from time to time, acquire additional securities of Galileo, dispose of some or all of the existing or additional securities held or to be held, or, may continue to hold his current position.

This News Release is issued pursuant to National Instrument 62-103 - Early Warning System and Related Takeover Bids and Insider Reporting Issues of the Canadian Securities Administrators, which also requires an early warning report to be filed with the applicable securities regulators containing additional information with respect to the foregoing matters. A copy of the related early warning report may be obtained from Galileo's SEDAR profile (www.sedar.com) or from Adams at 303-809-4668.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

WESLEY JOHN ADAMS
P.O. Box 770298
Steamboat Springs
Colorado, USA
80477